News

October 1, 2018 (Dunedin, Fla.) – Achieva Credit Union today announced it has successfully completed a merger with Preferred Community Bank, a Florida state-chartered bank in Lee County with $118 million in assets. This purchase brings Achieva’s total number of branches to 26 and total assets to $1.7 billion.

Established in 2007, Preferred Community Bank had three branches -- in Fort Myers, Lehigh Acres, and Cape Coral. All three branches are now operating as branches of Achieva. Under the terms of the merger agreement, this was a whole bank acquisition.

“Achieva Credit Union is excited about welcoming new members from Preferred Community Bank, and we are thrilled to offer residents of Lee County the opportunity to experience our member benefits,” said Achieva CEO Gary Regoli. “Nearly two-thirds of Preferred customers have already voluntarily opted-in to transfer their accounts to Achieva over the last several months, and more customers are signing up every day.”

Three years ago, Achieva made national news as the first credit union in America to acquire a bank in whole, with the purchase of Calusa Bank. Since then, several other credit union acquisitions of banks have occurred and Achieva has developed a consulting service, Achieva Merger Services, to provide expertise to other credit unions and community banks.

Unlike banks, credit unions are cooperatives, owned and operated by the members they serve. At Achieva Credit Union, the board of directors is made up of Achieva members – all unpaid volunteers – who look out for the best interests of their fellow members and the long-term strategic viability of Achieva. Federally insured credit unions, like Achieva, are insured by the National Share Insurance Fund (NCUSIF) which backs deposits up to $250,000 with the full faith and credit of the United States government.

About Achieva Credit Union

Achieva Credit Union was founded in 1937 in Pinellas County. Today, it is rated a Superior 5- Star credit union by Bauer Financial and has with over $1.7 billion in assets and 26 branches, serving more than 150,000 members. Anyone who lives or works in Charlotte, Collier, DeSoto, Hernando, Hillsborough, Lee, Manatee, Pasco, Pinellas, and Sarasota Counties, or whose family member has an Achieva Credit Union account can bank with Achieva. For more information about Achieva, visit www.achievacu.com.

Achieva Credit Union and Preferred Community Bank to Join Forces

Posted: 2/14/2018

February 14, 2018 (Dunedin, Fla.) – Achieva Credit Union today announced it has signed a definitive agreement to acquire Preferred Community Bank, a Florida state-chartered bank in Lee County with $118 million in assets. This purchase will bring Achieva’s total number of branches to 26 and total assets to $1.6 billion.

Established in 2007, Preferred Community Bank has three branches in Fort Myers, Lehigh Acres, and Cape Coral. All three branches will continue to operate as branches of Achieva after the sale is finalized later this year.

Under the terms of the merger agreement this will be a whole bank acquisition. This transaction is expected to close later this year and is subject to customary closing conditions and Preferred Community Bank shareholder and regulatory approvals. Achieva and Preferred’s management teams say they expect the sale to move forward smoothly.

“This consolidation of complimentary services and products along with our entry into new markets makes this combination a strong strategic move for Achieva. Along with all of those positives, our corporate cultures are greatly aligned which is a key ingredient in any successful consolidation”, said Achieva CEO Gary Regoli. “Additionally, we already have a presence in the Lee County community with three branches, and we are excited about becoming an even stronger part of this vibrant community.”

Three years ago, Achieva made national news by being the first credit union in America to acquire a bank in whole, with the purchase of Calusa Bank. Since then several other credit union acquisitions of banks have occurred and Achieva has developed a consulting service, Achieva Merger Services, to provide its expertise to other credit unions and community banks.

Unlike banks, credit unions are cooperatives, owned and operated by the members they serve. At Achieva Credit Union, the board of directors is made up of Achieva members – all unpaid volunteers – who look out for the best interests of their fellow members and the long-term Page 2 of 2 strategic viability of Achieva. Federally insured credit unions, like Achieva, are insured by the National Share Insurance Fund (NCUSIF) which backs deposits up to $250,000 with the full faith and credit of the United States government.

“We are very proud of the dedicated team of bankers and valued clients that we have built at Preferred Community Bank and we are looking forward to our partnership with Achieva. This exciting combination will continue to support and expand our highly personalized service with even more products and services” said Brenda O’Neil, Chairman and CEO of Preferred.

Dennis Holthaus, President of Achieva Merger Services, served as financial advisor to Achieva.

About Achieva Credit Union

Achieva Credit Union was founded in 1937 in Pinellas County. Today, it is rated a Superior 5-Star credit union by Bauer Financial and has with over $1.5 Billion in assets and 23 Branches, serving more than 150,000 members. Anyone who lives or works in Charlotte, Collier, DeSoto,Hernando, Hillsborough, Lee, Manatee, Pasco, Pinellas, and Sarasota Counties, or whose family member has an Achieva Credit Union account can bank with Achieva. For more information about Achieva, visit www.achievacu.com.

Achieva Celebrates 80 Years of Service

Expanding credit union grows upon foundation of values

Posted: 11/20/2017

May 22, 2017 (Dunedin, Florida) – When Achieva Credit Union was first formed in 1937, nearly half the America’s banks had failed amid the Great Depression. Nevertheless, seven Pinellas County educators pooled together $99.25 to create a new credit union for teachers. Today, 80 years later, Achieva serves more than 140,000 members in 10 counties and has more than $1.4 billion in assets.

Achieva has not only grown in size, it has also built a reputation for innovative leadership and as a great place to work. As Achieva enters its ninth decade, some things have changed but others have not. The size and technology behind a modern credit union would stun its founding members, but they would recognize the culture, according to Achieva Chief Executive Officer Gary Regoli.

“Our founders demonstrated cooperation, frugality and service – and they believed in the growing credit union movement,” Regoli said. “Those values formed the bedrock of this organization, and we still believe in those values today.”

Over the decades, Achieva grew and became a leader and innovator in credit unions in Florida. The organization was named the Pinellas County Teachers Credit union in 1950, and became community chartered in 1985. By 2003, it expanded into Pasco and Hernando county and changed names in 2004 to Achieva Credit Union.

Regoli became President and CEO in 2008, and Achieva merged with Sarasota Coastal Credit union in 2009, expanding to seven counties. In 2012, membership expanded to Lee and Collier counties, and in 2015 Achieva set a trend in the financial world by acquiring Calusa Bank and becoming the first credit union to buy a whole bank operation in Florida.

Achieva sponsors a myriad of community events, such as box car rallies, scrapbooking events, 5k runs, soccer teams and baseball clubs. The Achieva Foundation supports education projects across the region, and provides scholarships to high-achieving students.

“Achieva is an organization that this entire region can be proud of,” said Achieva Board of Directors Chairman T.D. Hawkins. “I offer my heartfelt congratulations on this milestone, and I look forward to the next chapter of Achieva’s growth.”

About Achieva Credit Union

Achieva Credit Union was founded in 1937 in Pinellas County. Today, it is rated a Superior 5-Star credit union by Bauer Financial and has more than $1.4 billion in assets and 24 branches serving more than 140,000 members. Anyone who lives or works in Charlotte, Collier, DeSoto, Hernando, Hillsborough, Lee, Manatee, Pasco, Pinellas, and Sarasota Counties, or whose family member has an Achieva Credit Union account can bank with Achieva. For more information about Achieva, visit www.achievacu.com.

Achieva Named One of Best Places to Work

Expanding credit union makes top workplace list five years in a row

Posted: 11/20/2017

April 10, 2017 (Dunedin, Florida) – Achieva Credit Union is not only a great place for banking. Achieva is also a wonderful place to work, and this week the community-minded credit union won the #4 spot among mid-sized companies in the Tampa Bay Times ranking of “Top 100 Workplaces.”

Dunedin-based Achieva has consistently ranked high among the workplace rankings for the last five years in a row, with five years in the top 10 list alongside the area’s most-respected hotels, banks, law firms, resorts, sports teams and charitable organizations.

“It’s an honor to continually be ranked one of the best places to work,” said Achieva Chief Executive Officer Gary Regoli. “To ensure our members have a wonderful banking experience, we do all we can to attract, develop and retain the best employees. Our employees are essential to our success and it’s gratifying to know we are creating a culture where they flourish.”

Achieva has more than 350 employees and 24 branches across the wider Tampa Bay and Sarasota region, serving more than 140,000 members. Among the superior benefits of working at Achieva:

Ø18 paid days off in the first year and 12 paid holidays

ØTuition reimbursement

ØComputer purchase incentive

ØHealth dental, life and disability insurance

ØExcellent 401k plan

ØFitness reimbursement program and excellent working hours

Fast-growing Achieva Credit Union has long served the wider Tampa Bay region and now serves members who live or work in Charlotte, Collier, DeSoto, Hernando, Hillsborough, Lee, Manatee, Pasco, Pinellas and Sarasota Counties.

Achieva has been an innovator in financial services, acquiring traditional bank branches to expand access for new members, and investing in the latest technology to enhance the credit union experience.

About Achieva Credit Union

Achieva Credit Union was founded in 1937 in Pinellas County. Today, it is rated a Superior 5-Star credit union by Bauer Financial and has more than $1.4 billion in assets and 24 branches serving more than 140,000 members. Anyone who lives or works in Charlotte, Collier, DeSoto, Hernando, Hillsborough, Lee, Manatee, Pasco, Pinellas, and Sarasota Counties, or whose family member has an Achieva Credit Union account can bank with Achieva. For more information about Achieva, visit www.achievacu.com.

Hollar will begin her post as CFO on March 1, taking over for Achieva CFO Dennis Holthaus who is taking a new position within the credit union. Hollar will oversee all aspects of financial affairs at the organization, including financial reports, audits, mergers, capital markets and regulatory reporting.

Hollar brings a wealth of experience as a senior leader with a wide range of organizations, including RP Financial, the Kennedy Space Center Federal Credit Union and other well-regarded institutions. Most recently, Hollar served as Senior Vice President at the Shared Services for Credit Unions organization based in Palm Beach Gardens.

“We are thrilled to bring Janice into the Achieva family,” said Achieva President and Chief Executive Officer Gary Regoli. “She has a tremendous range of experience with projects across the marketplace, and she leads with a positive example that fits perfectly with Achieva’s mission of doing GOOD. As well, we are grateful to Dennis for his years of service to Achieva. His dedication and skill has positioned Achieva well for the future.”

Hollar is well acquainted with Achieva, having worked with the company before as a consultant in the financial industry, and that experience helped lead to her interest in joining the organization.

“Achieva has a well-deserved reputation as a wonderful organization that is full of people dedicated to helping their members and the community – and that’s what it’s all about,” Hollar said. “I am excited to join the team and I look forward to helping the organization achieve its goals.”

Hollar graduated the University of Central Oklahoma, and received a Masters of Business Administration from the University of Texas at Dallas.

Beyond the executive suite, Hollar has served with a range of business groups, including the Florida Credit Union League Governmental Affairs Committee, the Cocoa Beach Area Chamber of Commerce Board, Rotary International, and the Credit Union Executives Society.

About Achieva Credit Union

Achieva Credit Union was founded in 1937 in Pinellas County. Today, it is rated a Superior 5-Star credit union by Bauer Financial and has more than $1.4 billion in assets and 24 branches serving more than 140,000 members. Anyone who lives or works in Charlotte, Collier, DeSoto, Hernando, Hillsborough, Lee, Manatee, Pasco, Pinellas, and Sarasota Counties, or whose family member has an Achieva Credit Union account can bank with Achieva. For more information about Achieva, visit www.achievacu.com.

Achieva Launches New Breed of Checking Account with Host of Perks

Growing credit union providing extra to members

Posted: 11/20/2017

Dunedin, Fla. (February 6, 2017) – Achieva Credit Union is proud to announce the launch of Achieva Checking Plus, a new form of interest-bearing checking account that offers a host of extra perks, from ID theft protection1* and cell phone protection to health discounts and $hopping Rewards.

Achieva is among the first financial institutions in its ten-county service area to launch a checking account with such extra benefits, offering even more value for Achieva members.

“These are fantastic benefits that go well beyond what other checking accounts offer,” said Achieva CEO Gary Regoli. “This is yet another example of Achieva breaking the mold to bring new and exciting products and services beyond the typical banking experience to our members.” Among the deals and benefits:

nCredit File and Total Identity Monitoring* to detect if your identity has been compromised, plus alerts of key changes to your credit file sent to you via email or text message, and up to $10,000 in Identity Fraud Expense Reimbursement Coverage.2

nFree Unlimited Official Checks and Money Orders and a High-Yield Interest Bearing3 Account and Online Banking.

nCell Phone Insurance2 for theft or damage up to $300, covering up to three phones.

nFree withdrawals at more than 900 Publix Presto! ATMs, and access to more than 5,000 shared branching locations nationwide.

nRetail Savings*, with immediate access to mobile coupons to favorite retailers, plus $hopping Rewards* of cash back that can be used towards future purchases, or sent to you via a check.

nHealthcare Savings Program*, providing discounts on health-related costs, such as discounts of up to 30 percent on brand name and generic prescriptions, dental care and eyewear. (This is NOT Insurance)

Beginning February 1, all new members of Achieva will have access to a wide range of perks with Achieva Checking Plus, all included in a monthly cost of $6.95, and existing Achieva members are encouraged to upgrade their accounts. Further details of the program are available online at www.achievacu.com/checkingplus.

ABOUT ACHIEVA: Achieva Credit Union was founded in 1937 in Pinellas County. Today, it is rated a Superior 5-Star credit union by Bauer Financial and has more than $1.4 billion in assets and 24 branches serving more than 140,000 members. Anyone who lives or works in Charlotte, Collier, DeSoto, Hernando, Hillsborough, Lee, Manatee, Pasco, Pinellas, and Sarasota Counties, or whose family member has an Achieva Credit Union account can bank with Achieva. For more information about Achieva, visit www.achievacu.com.

*Registration/activation required.

1IDProtect service is a personal identity theft protection service available to account owner(s) and their joint account holders. For revocable grantor trusts, the service is available only when a grantor is serving as a trustee and covers the grantor trustee(s). For all other fiduciary accounts, the service covers the beneficiary, who must be the primary member (fiduciary is not covered).

Achieva Checking Plus is not available to businesses, clubs, organizations and/or churches and their member, schools and employees/students.

2Special Insurance Program descriptions are summaries only and do not include all terms, conditions and exclusions of the policies described. Please refer to the actual polices for complete details. Guide to Benefits is provided at account opening. Insurance is offered through the company named on the certificate of insurance. Achieva Credit Union has partnered with Econ-O-Check Corporation to offer certain products and services. These products and services are not offered, performed or insurance by Achieva Credit Union.

3You may earn interest on your Achieva Checking Plus Account when you have 18 posted transactions per checking statement cycle, using your Achieva debit or credit card or a combination of both. The Annual Percentage Yield (APY) for the Achieva Checking Plus Account can be earned for balances up to and including $15,000. Certain fees may apply and may reduce earnings. Refer to Consumer Schedule of Fees https://www.achievacu.com/pdfs/Fees.pdf or call 800.593.2274 for details.

Insurance products are not insured by NCUA or any Federal Government Agency and are not a deposit of or insured by the Credit Union or any Credit Union affiliate.

Achieva to Help Credit Unions in Bank Mergers

Achieva Credit Union, which once served mostly Pinellas teachers, is launching a consulting service that would help larger credit unions buy smaller community banks.

Sounds mundane, but it borders on revolutionary. In the financial world, credit unions are the Hatfields. Commercial banks are the McCoys. They compete head-on to capture consumer and some business banking services. But they are different animals, with credit unions enjoying tax benefits not available to banks. And banks provide many services beyond the expertise of many credit unions. Banks have long complained that credit unions do not pay theirfair share of taxes, while credit unions argue their lower costs help small savers and families with modest incomes.

Now Achieva is launching the first-of-its-kind Achieva Merger Services, which hopes to makea profit out of telling credit unions of the merits behind buying smaller commercial banks, and urging banks to consider credit unions a rich new resource of potential buyers.

Achieva knows this special financial niche better than anyone. In 2015, Achieva purchased a community bank called Calusa Bank. It was the nation's first 'whole-bank' acquisition of a bank by a credit union - meaning Achieva bought all of Calusa by acquiring its stock for cash.

Is this a case of mixing dogs and cats? Not so, says former commercial banker Dennis Holthaus, who as Achieva's senior vice president is charged with getting this consulting business off the ground.

'Once the CEOs of a credit union and a prospective community bank start talking to one another and see the similarities of their culture and philosophy, any animosity quickly goes away,' he said.

Besides, smaller community banks used to be able to rely on bigger banks to buy them up. That happens a lot less often since the recession, which makes expansion-minded credit unions looking to make deals all the more enticing to small banks hoping to sell.

Says Holthaus: 'Cash deals to bank shareholders can go a long way.'

Dennis Holthaus is in charge of the new consulting service.

Achieva Launches Bank Merger Consulting Group

June 1, 2017 (Dunedin, Florida) – Achieva Credit Union is pleased to announce the formation of a specialized mergers and acquisitions consulting practice group called Achieva Merger Services that will help credit unions and banks identify suitable partners, guide them through the transaction, and help merge their operations.

The project is born from Achieva’s experience as a pioneer in the practice of acquiring banks, including acquiring Calusa Bank in 2015, the first whole-bank acquisition of a bank by a credit union in the nation.

“Our acquisition of Calusa helped spark interest nationwide among other credit unions who see an opportunity in buying banks, and vice versa,” said Achieva Executive Vice President Dennis Holthaus, who is leading the new group. “We’ve gone down this road before, and now we’ve gathered the experts and the resources to find these opportunities and execute transactions properly.” As a result, Achieva can provide everything from a-la-carte support to a turnkey-level solution.

For Achieva, acquiring Calusa significantly expanded Achieva’s reach in key areas of Florida, and added more services, including business services for commercial clients. Holthaus now sees many other credit unions looking to expand in similar ways, but they want the skills of someone who has done it before.

The new service can help financial institutions in all 50 states, and will be staffed by current Achieva executives who can also activate specialists, such as law firms, loan analysts and investment bankers with experience in these transactions.

Besides credit unions, Holthaus said more than a few community banks expressed interest in finding out how they can be acquired by credit unions, particularly because this can vastly expand the number of potential buyers for their organization.

“With our experience, we can help with both sides of that equation,” Holthaus said. “These are dynamic times in the financial industry, and we are thrilled to assist institutions looking to navigate these waters.”

About Achieva Credit Union

Achieva Credit Union was founded in 1937 in Pinellas County. Today, it is rated a Superior 5- Star credit union by Bauer Financial and has more than $1.5 billion in assets and 24 branches serving more than 150,000 members. Anyone who lives or works in Charlotte, Collier, DeSoto, Hernando, Hillsborough, Lee, Manatee, Pasco, Pinellas, and Sarasota Counties, or whose family member has an Achieva Credit Union account can bank with Achieva. For more information about Achieva, visit www.achievacu.com.

Achieva Credit Union Named one of Top Workplaces in Tampa Bay

April 11, 2016 (Dunedin, Fla.) — Achieva Credit Union was recently named one of Tampa Bay’s Top Workplaces 2016 by the Tampa Bay Times.

Posted: 4/11/2016

Achieva Credit Union’s employees nominated us and were surveyed about several topics, including practices and policies that make these companies the top places to work.

In the Tampa Bay region, nearly 180 leading employers were nominated by their employees. To be considered for participation, companies or government entities had to employ at least 50 workers in Florida and be at least a year old.

The Top Workplaces 2016 in Tampa Bay program was created by the Tampa Bay Times and WorkplaceDynamics.

The companies were ranked based on leadership, compensation and training, workplace flexibility, and diversity. The rankings were published on TampaBay.com, in the April 10 edition of the Tampa Bay Times and on April 11 in tbt*.

“The reports are so enriching because the stories come directly from the employees, which gives the readers a pure behind-the-scenes look into these companies,” said Chris Tisch, Times business editor. “Tampa Bay companies are truly interested in creating productive work environments and engaging employees.”

For a complete list of the 2016 Top Workplaces in Tampa Bay, go to www.tampabay.com/topworkplaces2016.

About the Tampa Bay Times

The Tampa Bay Times is widely considered one of the Top Ten newspapers in America and has won 10 Pulitzer Prizes. It is Florida’s largest newspaper, with an average circulation of 367,936 Sunday and 297,626 daily (AAM Annual Audit 2014). The Times is produced by the Times Publishing Company, which also publishes TampaBay.com - Tampa Bay’s largest local news Web site with about 2.7 million unique visitors each month (comScore six-month average for 7/15-9/15). Additionally, the company publishes the free daily tbt*, an edition of the Tampa Bay Times, and the Pulitzer Prize-winning website, PolitiFact.com; and produces special events, specialty publications, and targeted advertising programs.

About WorkplaceDynamics

WorkplaceDynamics is one of the largest workplace survey providers in the United States. Each year it surveys thousands of companies and partners with leading media organizations to produce definitive Top Workplaces lists. Using proprietary, cutting-edge online applications, WorkplaceDynamics is bringing employee engagement to the web.

Achieva Credit Union Opens Community Dog Park in Dunedin

Puppy Bowl event, Kitten Room, doggie football outfits

Posted: 2/11/2016

February 1, 2016 (Dunedin, Fla.) – Achieva Credit Union this Saturday will open “Paw Park,” a spacious and new community dog park near downtown Dunedin, and celebrate opening day with all sorts of Super Bowl-themed events for puppy (and kitten) lovers.

Organizers expect more than 300 dogs and owners at the free event, which will run at 11 a.m. to 2 p.m., Saturday, February 6, at the new park, recently built adjacent to Achieva headquarters at 1659 Virginia Street, Dunedin, FL, just south of Main Street. Pet owners are encouraged to bring their pets dressed in their best football outfits to celebrate Super Bowl weekend. Events for the day include:

“Puppy Bowl,” where dogs can compete to run the football in for especially furry touchdowns.

“Kitten Room,” full of kittens to play with and adopt.

Mobile pet groomers.

Onsite vaccinations and micro-chipping.

Brady's on the go food truck.

Pet treat giveaways and pet games.

To launch the park, Achieva partnered with Suncoast Animal League, a non-profit no-kill animal rescue agency dedicated to the protection and welfare of animals.

“A core value of Achieva is reaching out to the community and being inclusive, and in this case, that means people’s pets too,” said Achieva Senior Vice President and Chief Operating Officer Tara Murphy. “Opening a good dog park is a wonderful way for us to give back to the community in a very personal way, and we’re thrilled to have all these new and furry visitors nearby.”

All proceeds from the event will benefit local schools in Sarasota in the form of classroom grants awarded by the Achieva Foundation, a 501(c)(3) corporation and administered through the Education Foundation of Sarasota County.

Achieva Credit Union Announces ‘Run for GOOD’ Event in Sarasota

5K Run/Walk, Dog Walk, Kids Run to Provide Classroom Grants for Local Schools

Posted: 1/26/2016

December 17, 2015 (Sarasota, Fla.) – Achieva Credit Union announces its second-annual ‘Run for GOOD’ fundraiser event will be held on Saturday, January 30, 2016, from 7:30 a.m. to 10 a.m. at Payne Park in Sarasota.

The family-friendly event will feature a 5K run/walk, a half-mile kids run and half-mile dog walk. All proceeds from the event will benefit local schools in Sarasota in the form of classroom grants awarded by the Achieva Foundation, a 501(c)(3) Corporation and administered through the Education Foundation of Sarasota County.

Last year’s inaugural event was a huge success, attracting more than 200 runners. Achieva is proud to be a presenting sponsor of the Education Foundation of Sarasota County’s classroom grant program, funding to date nearly $100,000 in educational grants.

‘Run for GOOD’ is open to all ages and offers fun for the whole family. In addition to the walking and running events, there will a doggie costume contest with a great prize for the best-dressed furry friend. The event will also feature music, face painting, bounce house and a post-race pancake food truck breakfast, provided free for participants.

Registration is now open and information is available at www.achievarunforgood.com. There is a $5 registration discount for all Manasota Track Club members. All participants will receive a commemorative event shirt and all finishers of the Kids Run will receive a finisher's medal.

Awards will be given to the top male and female finishers overall as well as Master (age 40 & over), Grand Master (age 50 & over), Senior Master (age 60 & over), and Veteran Master (age 70 & over). Age group awards will be given to the top six male and female finishers in the following categories: Nine & under, 10-12, 13-15, 16-19, and in five year increments up to 80+.

Achieva Credit Union Acquisition of Bank Approved

Calusa Bank to Become Part of Achieva

Posted: 11/23/2015

December 1, 2015 (Dunedin, Fla.) – Achieva Credit Union today announced it has gained the necessary federal and state approvals to complete its acquisition of Calusa Bank, a Florida state-chartered bank in Sarasota and Charlotte counties that holds $165 million in assets. This is the first acquisition of a bank by a credit union in Florida, and the seventh nationally. The merger will bring Achieva’s total number of branches to 24 and total assets close to $1.4 billion.

This approval represents the last step required to complete the planned transaction, and the conversion of Calusa branches into Achieva locations is already underway. Established in 2007, Calusa has four branches in North Port, Port Charlotte, Punta Gorda and Venice. All four locations will now become branches of Achieva, and the bank’s customers will become Achieva Credit Union members.

Under the terms of the merger agreement, Achieva will purchase all of the issued and outstanding shares of Calusa Bank, making this the first “whole bank” acquisition by a credit union, according to the negotiators. This is unique, negotiators say, because previous transactions between credit unions and banks were all structured as purchase and assumption of only a majority of the assets and deposits.

“The transaction process has gone just as smoothly as we could have wished,” said Achieva Chief Executive Officer Gary Regoli. “This helps broaden our reach, and it follows the Achieva strategy of growing smartly into areas where we can provide the tremendous benefits of Achieva to new members. We are looking forward to becoming a stronger partner in each of these communities because community involvement and leadership is a big part of the Achieva ethos.”

Unlike banks, credit unions are cooperatives that are owned and operated by the members they serve. At Achieva Credit Union, the board of directors is made up of Achieva members – all unpaid volunteers – who look out for the best interests of their fellow members. Federally insured credit unions such as Achieva are insured by the National Credit Union Share Insurance Fund (NCUSIF) which backs individual deposits up to $250,000 with the full faith and credit of the United States government.

“It was immediately evident that Achieva’s service culture and attention to the customer was in lockstep with ours, giving us assurance that our customers will continue to receive the unparalleled level of service they have come to expect,” said Lew Albert Chairman and Chief Executive Officer of Calusa.

Atlantic Merchant Capital Advisors LLC and Feldman Financial Advisors Inc. served as financial advisors to Achieva and Michael Bell of Howard & Howard provided legal counsel to Achieva. Hovde Group LLC served as exclusive financial advisor to Calusa Bank and Richard Pearlman of Igler Pearlman P.A. served as legal counsel.

First Annual Coconut Run Coming to Cape Coral

5K Race and Kids Run Benefit Local Schools

Posted: 11/20/2015

CAPE CORAL, Fla. (October 28, 2015) – Achieva Credit Union will partner with the Cape Coral Coconut Festival to bring the first annual Coconut Run 5K and Kids Run on Saturday, November 14. The race will take place at the Sun Splash Family Waterpark Festival Grounds and will be an exciting addition to the Coconut Festival this year. All money raised benefits the Achieva Foundation, which supports local schools. Registration for the 5K and Kids Run is now open and includes entry for two into the Coconut Festival, Dri-Fit shirts for the first 300 registrants and an all-day carnival wristband for Kids Run participants.

“We’re excited to be adding this event to the Coconut Festival,” said Achieva CEO Gary Regoli. “Community service and supporting local schools is a big part of Achieva’s DNA.” Achieva has two Cape Coral branches: Camelot Isles at 1616 W. Cape Coral Pkwy and Coral Point at 1631 Del Prado Blvd S.

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Any information you submit on or through the site you
are about to enter will not be subject to Achieva's
Privacy Policy.